South Korea's LG becomes first major smartphone brand to withdraw from market

SEOUL -South Korea’s LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market.Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge.

In better times, LG was early to market with a number of cell phone innovations including ultra-wide angle cameras and at its peak in 2013, it was the world’s third-largest smartphone manufacturer behind Samsung and Apple. LG’s current global share is only about 2%. It shipped 23 million phones last year which compares with 256 million for Samsung, according to research provider Counterpoint.

LG’s smartphone division, the smallest of its five divisions accounting for about 7% of revenue, is expected to be wound down by July 31.

End of the road for LG phones|Catch up series on the history of LG phones

Wow so sad to see them go

Go ElectricCar!

PM me if you’re interested in earning $105 by online trading daily, PM me if you have a phone or PC let’s go ✅✅✅

thanks for the LG G4 defo the phone of its time the spec, quality & unique design was 4g compatible, leather back & made even the hard core Samsung & iPhone users look over twice, yep why? even Samsung users did not at the time have Android’s new OS courtesy of Google 🤷‍♂️👌👍

That's too bad! Their phones were dope!

Check this documentary on what happened to LG 👇 End of the road for LG phones|Catch up series on the history of LG phones

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

South Korea's LG becomes first major smartphone brand to withdraw from marketSouth Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. PM me if you’re interested in earning $105 by online trading daily, PM me if you have a phone or PC let’s go ✅ Still remember my first smart cell phone is LG. ogwang256 Told you this a few
Источник: Reuters - 🏆 2. / 97 Прочитайте больше »

South Korea's LG becomes first major smartphone brand to withdraw from marketSouth Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge. 'In the United States, LG has targeted mid-priced - if not ultra-low - models and that means Samsung, which has more mid-priced product lines than Apple, will be better able to attract LG users,' said Ko Eui-young, an analyst at Hi Investment & Securities.
Источник: YahooNews - 🏆 380. / 59 Прочитайте больше »